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Trucker Huss Announces Determination Letter Support


SAN FRANCISCO, CA, March 21, 2017 -- Trucker Huss, APC is pleased to announce its Qualified Plan Compliance Program ("QPCP"). Building on the firm's extensive plan design and maintenance services, QPCP was designed to fill the void left by the Internal Revenue Service's recent curtailment of the determination letter program for individually designed qualified retirement plans.

Effective January 1, 2017, the IRS has limited its determination letter program to initial determinations for new plans and final determinations for terminating plans. As a result, plan sponsors are no longer able to obtain ongoing written confirmation from the IRS that their plan document continues to meet the tax-qualification requirements of the Internal Revenue Code. Plan sponsors have relied on the IRS determination letter program to facilitate the development of effective internal controls and proper plan operations, and to ensure plan document compliance and consistent monitoring. IRS determination letters also provide evidence of qualified plan status, which is crucial to many aspects of plan administration and transactions, including:

  • Annual independent plan audits.
  • IRS examinations and Department of Labor investigations.
  • Plan-to-plan rollovers and transfers.
  • Representations and warranties in mergers and acquisitions.
  • Representations made to investment managers, trustees, and custodians.
  • Participant claims and litigation.

"As the law changes, and as plan documents must be amended, plan sponsors will no longer be able to rely on their existing IRS determination letters. We are pleased to offer QPCP as a solution that delivers our plan sponsor clients continued confidence that the form of their qualified plans continues to meet the tax-qualification rules, thus providing stability in administration," said Kevin Nolt, Director of Trucker Huss.

The firm's QPCP provides plan sponsors with a written opinion of counsel that their plan document, as amended after the date of their last IRS determination letter, continues to maintain its tax-qualified status as to form. The QPCP opinion letters will cover required amendments based on updates to the tax qualification requirements, as well as design (discretionary) amendments.

In addition to an opinion letter, plan sponsors may selectively include the following existing Trucker Huss services under QPCP: (i) reviews of required compliance testing; (ii) controlled group/affiliated service group opinions; and (iii) customizable operational compliance reviews. QPCP services are available to all types of qualified retirement plans (both defined benefit and defined contribution plans).

About Trucker Huss

Trucker Huss is the largest employee benefits specialty law firm on the West Coast. Our in-depth knowledge and breadth of experience on all issues confronting benefit plans, plan sponsors, and plan fiduciaries translates into real-world, practical solutions for our clients, backed by the resources to handle the most complex or the most straightforward assignments. For more information, visit http://www.truckerhuss.com/.


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